Incorporated in April 1998, Dhoot Transmission Limited is one of India’s leading electrical and electronics (E&E) companies engaged in the design, engineering, manufacturing, and supply of wiring harnesses and electrical distribution systems for automotive and non-automotive applications. The company offers a diversified product portfolio comprising wiring harnesses, battery packs, sensors and electronic controllers, automotive switches, terminals, connectors, and power supply cords, catering to both internal combustion engine (ICE) and electric vehicle (EV) platforms.
The company is among the top two players in India’s two-wheeler (2W) and three-wheeler (3W) wiring harness market, with a 41% market share and is a leader in the electric 2W and 3W segment with a market share of nearly 70% in Fiscal 2026. Its products are also used in commercial vehicles, off-highway vehicles, farming equipment, and industrial applications. Approximately 95% of its automotive product portfolio is EV-focused or powertrain-neutral, positioning the company to benefit from electrification, premiumization, connected vehicles, and automation trends.
Dhoot Transmission has established long-term relationships with leading automotive OEMs while maintaining a diversified customer base and robust financial performance.
As of March 31, 2026, the company employed 2,735 full-time employees across manufacturing, R&D, engineering, sales, finance, and corporate functions.
Strengths
Dhoot Transmission Ltd.’s revenue increased by 31% and profit after tax (PAT) rose by 12% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 4,114.83 | 2,336.23 | 1,711.70 |
| Total Income | 4,563.70 | 3,472.24 | 2,799.32 |
| Profit After Tax | 396.84 | 353.89 | 298.75 |
| EBITDA | 710.99 | 590.96 | 512.40 |
| NET Worth | 2,397.15 | 978.18 | 741.01 |
| Reserves and Surplus | 2,360.40 | 961.53 | 724.74 |
| Total Borrowing | 841.39 | 776.06 | 554.90 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| SEDEMAC Mechatronics Ltd. | Mainboard | ₹1,087.35 Cr | ₹1352 | 126.91 | ₹1,451.10 | +7.33% | ₹2,810.40 |
| Tenneco Clean Air India Ltd. | Mainboard | ₹3,600.00 Cr | ₹397 | 28.97 | ₹490.80 | +23.63% | ₹562.80 |
| Studds Accessories Ltd. | Mainboard | ₹455.49 Cr | ₹585 | 33.06 | ₹560.30 | -4.22% | ₹438.75 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/prepayment, in full or in part, of all or certain outstanding borrowings availed by the Company | 464.80 |
| 2 | Investment in certain of our Subsidiaries, namely, Dhoot Autocomponents Private Limited, Dhoot Electricals Systems Private Limited, Dhoot Automotive Systems Private Limited and Dhoot Transmission UK Limited, for repayment/prepayment, in full or part, of all or certain of the outstanding borrowings availed by these Subsidiaries. | 301.77 |
| 3 | Setting up of a new wiring harness manufacturing plant of the Company at (i) Sector 11, Jhajjar, Haryana, India; and (ii) Shoolagiri, Hosur, Tamil Nadu, India | 150.00 |
| 4 | Funding inorganic growth through unidentified acquisitions and general corporate purposes(1) | |
| Total | 916.58 |
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 16.30% | 35.60% |
| ROCE | 19.14% | 29.66% |
| Debt/Equity | 0.35 | 0.78 |
| RoNW | 16.55% | 36.18% |
| PAT Margin | 8.70% | 10.19% |
| EBITDA Margin | 15.71% | 17.15% |
| NAV | 149.74 | 68.25 |
| Price to Book Value | 5.82 | 12.76 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 21.06 | 19.40 |
| P/E (x) | 41.36 | 44.9 |
| IPO Date | 10 to 12 Aug, 2026 |
| Listing Date | Mon, Aug 17, 2026T |
| Face Value | ₹2 per share |
| Price Band | ₹829 to ₹871 |
| Lot Size | 17 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹80.00 |
| Total Issue Size | 3,52,18,047 shares (agg. up to ₹3,067 Cr) |
| Fresh Issue | 1,60,80,445 shares (agg. up to ₹1,400 Cr) |
| Offer for Sale | 1,91,37,602 shares of ₹2 (agg. up to ₹1,667 Cr) |
| Share Holding Pre Issue | 18,84,67,612 shares |
| Share Holding Post Issue | 20,45,48,057 shares |
The promoters of the company are BC Asia Investments XV Ltd. and Rahul Radhavallabh Dhoot.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 82.77% |
As per our analysis and Based on the information we have, this is the output.
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Last Updated on August 9, 2026 Dhoot Transmission Ltd. IPO Incorporated in April 1998, Dhoot Transmission Limited is one of India’s leading electrical and electronics (E&E) companies engaged in the
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